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Increases in risk with kinked payoff functions

✍ Scribed by S.M Ravi Kanbur


Book ID
115964363
Publisher
Elsevier Science
Year
1982
Tongue
English
Weight
438 KB
Volume
27
Category
Article
ISSN
0022-0531

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Mean utility preserving increases in ris
✍ Michel Demers πŸ“‚ Article πŸ“… 1987 πŸ› Springer US 🌐 English βš– 654 KB

This paper i defines the concept of a mean utility preserving spread across states (MUPSAS) for state dependent utility functions and analyzes the behavioural impact of shifts in the probability distribution of wealth across states such that overall mean utility is preserved. The main result provide